$INIT /USDT BEARISH RETEST UNDERWAY — SELL PRESSURE RETURNING!
$INIT has dropped to $0.7841 (-2.24%), facing rejection near the $0.85 zone after a short recovery from lows. The recent lower high and weakening candles suggest the bounce may be losing strength. If price breaks below $0.7722, a deeper correction is likely.
Key Levels:
Resistance: $0.8520 – $0.8990
Support: $0.7720 – $0.6790
Trade Setup (Short):
Entry: $0.7800 – $0.7900
Take Profit: $0.7200 / $0.6800
Stop Loss: $0.8550
Risk Management:
Use 3–5% capital per trade. Place stop loss above resistance and avoid entries during spikes.
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